Luna Classic burned just 9.2 billion tokens in November – with 6 billion from Binance, and the rest from on-chain transactions.

It's less than half the Luna Classic (LUNC) tokens burned in October. At this rate, as one user commented on Reddit: "9 billion a month brings us to another 500 years waiting in line for Lambo. Great success."

It comes after the Terra Luna Classic community voted to reduce the burn tax from 1.2% to 0.2%. 

Not everyone is happy about it.

How long for LUNC burning to cause price hikes?

The 9.2 billion Luna Classic tokens represent 0.15% of the circulating supply. At this rate, in 10 years the total supply would have reduced to 5 trillion – down from a current 5.9 trillion LUNC tokens.

With the current market cap, this would give a LUNC price of $0.000197. That's a 20% price rise from the current $0.000165.

It's not a huge impact. Evidently the LUNC community is putting its efforts into ecosystem revival rather than burning its way back into the crypto top 10.

EverGrow case study – does token burning really work? 

EverGrow is a passive income DeFi token. It charges a transaction tax everytime you buy or sell – and rewards some of it to holders and some more to burn tokens.

In November, EverGrow burned almost 1% of its circulating supply. The EverGrow price has already risen 43%, and at this rate is on track to beat LUNC to $0.001 even though today it's priced $0.0000001.

How does EverGrow burn so many tokens?

EverGrow charges a transaction tax of 14%, which is split as follows:

• 8% converted into BUSD and distributed among all wallets ($38+ million paid to date)
• 2% to burn tokens (507 trillion burned at genesis and 28 trillion burned in last 12 months, or 6% of circulating supply)
• 2% for ecosystem development (NFT marketplace launched)
• 2% to fund liquidity (you can only buy EverGrow on PancakeSwap using BNB or BUSD)

But that's not all. EverGrow spent over $260,000 in November to buyback and burn EverGrow tokens. The revenue comes from something LUNC is also searching for: an ecosystem.

EverGrow launched an NFT marketplace in September called LunaSky. It's the first marketplace in crypto to send 100% revenue towards buying and burning a native token – in this case, EverGrow.

In November, EverGrow started burning tokens with LunaSky revenue: $12,500 per day has been buying and burning EverGrow. And the EverGrow price has risen 43%.

LUNC investors disappointed with the reduced burn tax could well find their calling in EverGrow.

You can buy EverGrow using BNB or BUSD on the website.